Russ:
Bummer! Times are indeed bad. My 401k is a mere shadow of it's former self. I'll be looking for work too. Thankfully, I'm not a performer... just a songwriter who sings.
I'm not sure what I'd advise you... but my gut feel is exactly the same as Mason and the others. Stick to your guns but the situation sounds rough. Alot depends upon your relationship with the owner and your loyal fan base. Keep us posted. I wish you the best.
Dave Rice
http://www.ShowCaseYourMusic.com/DaveRice